Chapin Davis Inc. Has $947,000 Stake in Amgen Inc. (NASDAQ:AMGN)

Chapin Davis Inc. lifted its stake in Amgen Inc. (NASDAQ:AMGN) by 12.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,331 shares of the medical research company’s stock after purchasing an additional 372 shares during the period. Chapin Davis Inc.’s holdings in Amgen were worth $947,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. BOK Financial Private Wealth Inc. acquired a new stake in Amgen during the 4th quarter worth approximately $29,000. United Community Bank bought a new position in Amgen during the 4th quarter worth about $29,000. Planned Solutions Inc. acquired a new stake in shares of Amgen in the 4th quarter valued at about $30,000. Delos Wealth Advisors LLC raised its stake in shares of Amgen by 2,500.0% in the 4th quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 100 shares during the period. Finally, Hartford Financial Management Inc. lifted its stake in Amgen by 56.9% in the 4th quarter. Hartford Financial Management Inc. now owns 113 shares of the medical research company’s stock valued at $33,000 after acquiring an additional 41 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AMGN. Royal Bank of Canada raised their price target on Amgen from $328.00 to $332.00 and gave the company an “outperform” rating in a research note on Friday, June 14th. Mizuho upped their price objective on shares of Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, May 9th. Barclays upgraded shares of Amgen from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $230.00 to $300.00 in a research report on Friday, May 3rd. TD Cowen lowered their price target on Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Finally, UBS Group raised their price objective on Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $307.35.

Amgen Stock Up 1.7 %

Shares of NASDAQ:AMGN traded up $5.26 during trading hours on Monday, reaching $317.71. The stock had a trading volume of 95,777 shares, compared to its average volume of 2,769,741. The stock has a market capitalization of $170.43 billion, a price-to-earnings ratio of 44.64, a P/E/G ratio of 2.82 and a beta of 0.58. Amgen Inc. has a 1 year low of $218.44 and a 1 year high of $329.72. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42. The firm’s 50 day moving average is $301.56 and its 200-day moving average is $292.30.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, topping analysts’ consensus estimates of $3.76 by $0.20. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The business had revenue of $7.45 billion for the quarter, compared to analysts’ expectations of $7.45 billion. During the same quarter in the prior year, the firm posted $3.98 EPS. The company’s revenue was up 22.0% compared to the same quarter last year. Research analysts predict that Amgen Inc. will post 19.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Nancy A. Grygiel sold 2,117 shares of Amgen stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total transaction of $662,811.53. Following the transaction, the senior vice president now directly owns 9,883 shares in the company, valued at approximately $3,094,268.47. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.69% of the stock is currently owned by company insiders.

Amgen Company Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.